Wal-Mart has announced aggressive expansion plans to increase its presence in Asia and Europe.

It plans to open 165 stores outside the US next year in addition to expansion within the US. The latter includes 40 to 45 new discount stores, 240 to 250 new supercentres, 30 new neighbourhood market stores and up to 40 of its Sam’s Club brand.

It is expected to announce specific plans for Asda in the UK next month, according to newspaper reports.

This year the retailer opened 11 new Asda stores, bringing the total to 267.